Rubber prices have soared to the highest level since May as a weak Japanese currency boosted the appeal of yen-based contracts.
Rubber for delivery in June, the most-active by volume, gained 1.6% to settle at 292.1 yen/kg (US$3,445 a tonne) on the Tokyo Commodity Exchange, the highest since May 10. Futures have advanced 11% this year.
The yen fell to 84.96 per dollar, the weakest since April 2011, after incoming Prime Minister Shinzo Abe said he will consider changing the law governing the Bank of Japan, unless it boosts its inflation target by January. (RJA)
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